Intravenous (IV) Equipment Market Analysis

Intravenous Equipment Market Analysis

The intravenous equipment market by product is categorized into IV catheters, administration sets, infusion pumps, securement devices, drip chambers, stopcocks and check valves, needless connectors, and others. The IV catheters segment garnered USD 3.3 billion revenue size in the year 2022. IV catheters are essential for administering fluids and medications directly into the patient's bloodstream during IV therapy. They find applications across various healthcare settings and specialties, making them a versatile and in-demand product. Furthermore, ongoing technological advancements in IV catheters aim to enhance patient comfort and safety, attracting healthcare providers. The rising prevalence of chronic diseases further fuels the demand for IV therapy and, consequently, IV catheters.
 

Based on end-use, the intravenous equipment market is segmented into hospitals and clinics, diagnostic centers, ambulatory surgical centers, and others. The hospitals and clinics segment accounted for over 34% market share in the year 2022. Hospitals and clinics witness a high volume of IV procedures across diverse medical specialties, creating a sustained demand for IV equipment. With advanced healthcare infrastructure and a focus on patient safety, hospitals and clinics prioritize the use of innovative IV equipment to provide optimal care. For instance, according to the American Hospital Association’s (AHA) Hospital Statistics 2022 edition, the total number of patients admissions in all hospitals across the U.S. amounted to approximately 33.3 million.
 

U.S. intravenous equipment market accounted for USD 5.4 billion revenue size in 2022. Increasing geriatric population base along with the rising incidence of cancer in the country will drive the U.S. industry progression. For instance, according to the American Cancer Society, it is projected that in 2023, there will be approximately 2 million new cases of cancer and an estimated 609,820 cancer-related deaths in the U.S. Moreover, growing awareness regarding remote patient monitoring devices for improved accuracy, portability, connectivity, and user-friendly interface will boost market adoption rate.